Principal Financial Group Inc. Lowers Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Principal Financial Group Inc. cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 13.4% during the fourth quarter, Holdings Channel reports. The firm owned 306,470 shares of the data storage provider’s stock after selling 47,543 shares during the quarter. Principal Financial Group Inc.’s holdings in Seagate Technology were worth $26,451,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in STX. Foundations Investment Advisors LLC lifted its holdings in Seagate Technology by 10.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 2,299 shares of the data storage provider’s stock worth $252,000 after purchasing an additional 213 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares in the last quarter. Signaturefd LLC lifted its holdings in Seagate Technology by 14.0% in the 3rd quarter. Signaturefd LLC now owns 4,875 shares of the data storage provider’s stock worth $534,000 after purchasing an additional 600 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Seagate Technology by 3,549.7% in the 3rd quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after purchasing an additional 198,890 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Seagate Technology by 6.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,672 shares of the data storage provider’s stock worth $1,826,000 after purchasing an additional 988 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the sale, the chief executive officer now owns 622,497 shares of the company’s stock, valued at $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,891 shares of company stock worth $2,146,848 in the last quarter. 0.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on STX. Barclays boosted their price target on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Mizuho reduced their price objective on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Stock Down 1.7 %

STX opened at $100.85 on Friday. The business has a fifty day moving average of $95.02 and a 200 day moving average of $99.84. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32. The stock has a market cap of $21.35 billion, a P/E ratio of 18.44 and a beta of 1.07.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.